Eagle Bulk Shipping Inc EGLE shares are trading higher by $0.75 (7 percent) at $9.77 in Wednesday's session.
The issue has benefited from the torrid run in the shipping sector over the last few days, instigated by the mind-boggling move in DryShips Inc. DRYS. That issue has rallied from its November 10 close ($5.10) to $120.00 in today's pre-market session before being halted.
Meanwhile, Eagle Bulk Shipping has more than doubled from its November 9 close ($4.55), when it peaked at $11.16 on Tuesday.
In today's session, the issue has found support just above Tuesday's close ($9.02), only reaching $9.10. On the upside, it hasn't been able to reach Tuesday's high ($11.16), finding sellers at $10.60.
The issue is attempting to post its first close over $10.00 since July 21, when it ended the session at $10.41.
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